Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) Sees Significant Growth in Short Interest

Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 181,280 shares, an increase of 238.3% from the July 15th total of 53,588 shares. Based on an average daily volume of 65,890 shares, the short-interest ratio is presently 2.8 days. Approximately 0.8% of the company’s shares are sold short.

Franklin FTSE United Kingdom ETF Stock Performance

Shares of NYSEARCA FLGB traded down $0.01 during midday trading on Friday, hitting $37.14. 13,037 shares of the company traded hands, compared to its average volume of 175,129. Franklin FTSE United Kingdom ETF has a 12-month low of $31.22 and a 12-month high of $37.61. The stock has a 50-day moving average price of $36.10 and a 200 day moving average price of $35.82. The firm has a market cap of $895.07 million, a P/E ratio of 15.48 and a beta of 0.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLGB. Geneos Wealth Management Inc. purchased a new position in shares of Franklin FTSE United Kingdom ETF in the 2nd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its position in Franklin FTSE United Kingdom ETF by 79.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,553 shares of the company’s stock valued at $48,000 after buying an additional 686 shares during the period. Triumph Capital Management purchased a new position in Franklin FTSE United Kingdom ETF during the third quarter valued at $110,000. Raymond James Financial Inc. bought a new stake in shares of Franklin FTSE United Kingdom ETF during the 2nd quarter valued at $144,000. Finally, Bayban purchased a new stake in shares of Franklin FTSE United Kingdom ETF in the 4th quarter worth about $150,000.

About Franklin FTSE United Kingdom ETF

The Franklin FTSE United Kingdom ETF (FLGB) is an exchange-traded fund that is based on the FTSE UK RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap companies from the United Kingdom. FLGB was launched on Nov 2, 2017 and is managed by Franklin Templeton.